#1 - Canopy Growth (NASDAQ:CGC)
Canopy Growth (NYSE: CGC) - Almost any discussion of investing in marijuana stocks involves Canopy Growth and this won’t be an exception. Canopy is the largest company in the sector with an approximately $18.8 billion market capitalization. As the market for legal cannabis opens up, it’s going to be like a game of musical chairs and there’s little doubt that Canopy Growth will not be left without a seat at the table. Constellation Brands seems to agree. Investors frequently trade on the news and the news about Canopy continues to be exciting. Constellation Brands was already an investor in Canopy. They recently increased their share from 10% to 38%, which essentially was a $4 billion shot of credibility to the cannabis industry and Canopy Growth in particular. But Canopy is also looking to expand into another niche segment of the cannabis industry – medical marijuana. It is accomplishing that by inking a multi-year agreement to supply and service Canada’s Centric Health.
About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
Read More - Current Price
- $10.20
- Consensus Rating
- Sell
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $4.87 (52.3% Downside)
